A few weeks ago, we reported that Germany would randomly check the gold stored abroad for authenticity and presence. Now the news comes out that the Bundesbank wants to have the gold bars back under its own management and thus bring the gold back to Germany. Recently, there have been more and more 'ghost stories' that doubted whether all the gold that countries have stored abroad is actually present.
The Bundesbank decides to close the warehouse in Paris. This gold represents about 11 percent of Germany's gold supply. The gold reserves in London and New York will also be partially reduced. The amount of this is not known.
It is still unclear where the gold will go. It is expected that this gold will be shipped to Frankfurt. The Bundesbank is responding to criticism that the bank has no control over gold reserves, according to the Süddeutsche Zeitung.
Holland Gold uses functional and tracking cookies to, among other things, improve your user experience on the website, personalize content and advertisements.
Read more about our cookie policy.